Mexico’s Pemex Sells $4 Billion in Bonds, Carries Out Debt Swap – WSJ

Mexican state oil company Petróleos Mexicanos sold $4 billion in long-term bonds to buy back existing debt and prefund some of its 2017 financing needs, the company’s chief financial officer said Monday.In addition, Pemex carried out a bond exchange for around $1.6 billion, Juan Pablo Newman said at a meeting with reporters.“These operations improve the company’s debt profile, reduce our financing risk and give us access to better terms and conditions. It strengthens the finances and financial structure of the institution,” Mr. Newman said.